Interest rate change 'more likely in November'

An analysis of interest rate changes over the past ten years reveals November has seen a total of six rate changes. Legal and General claims the analysis points to a further base rate change this month, and say cooling house prices and a slowing mortgage market means there is likely to be a cut. The new will come as a relief to many homeowners who expect to suffer payment shocks when their fixed rate deals expire towards the end of 2007 and they are forced to remortgage at a higher rate. Commenting on the findings, Ben Thompson, mortgages director at Legal and General, says: “November is...